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Term Life Insurance ~VS~ Whole Life Insurance
Term Life Insurance ~VS~ Whole Life Insurance
When it comes to comparing term life insurance vs. whole life insurance the decision typically comes down to cost. While whole life insurance is a guarantee and the cost of your life will be consistent and suitable for established businesses with long-term plans and require a tax shelter. Term life insurance is a cost-effective solution for businesses looking for protection for key people and to protect the company assets against loans. Business owners must review all of the details of outstanding loans and debt obligations of your policy to avoid any surprises.
What is term life insurance?
What is term life insurance?
Term life insurance is affordable, easy-to-understand coverage that gives you flexible, temporary protection.
You will be covered for a specific period of time and the cost of your policy is guaranteed for the entire term. If you die while the policy is in effect, your beneficiaries will receive a tax-free payment. Most policies also have option to convert your coverage to permanent insurance regardless of any changes to your health, occupation or lifestyle.
Is term life insurance right for you?
Term insurance is an effective solution for people who are:
Focused on affordability and value
In need of temporary protection (for example, to cover a mortgage or business loan, or until children are finished school)
Business owners with a need for key person protection and/or to fund buy/sell agreements
Example of Term Life insurance rates. Click for Instant Quote
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